Business Registration Process in Hong Kong

Hong Kong is one of the world’s leading financial centers and also a major capitalist service economy. Conducting a business is characterized by low taxation and free trade. The Government is encouraging and promoting businesses and as such businesses outside Hong Kong are tax free.

Registering a business can be done in two ways as follows. There can be an online option which can be done remotely as well as offline, which you get to do it in person.  The regulations are also business friendly as the minimum requirement to start is a shareholder and a director. There is a government website that can assist but there are a couple of other sites that are far much more reliable than the Government one.

For $400 or less one can have and enjoy the services of an actual office. This is known as a virtual office. It is the easiest and fastest way to get the services such as a business address, telephone number and fax number, together with staff.

Some of the common Company formations in Hong Kong are as follows.

• limited companies
• Affiliate Foreign company
• Limited Liability Partnerships
• Sole Proprietorships
• Non-profit organizations

You will need to register the business with the Hong Kong’s Government Business Registration Office at the Inland Revenue Department. The registration must happen within one month of the opening of the business. Afterwards the Issued certificate must be displayed at the premises of the business.

The process of registration can be simplified and hastened by compiling all the items needed for successful registration. You must include a notice to Business registration Office with a business registration fee of 260 USD (HK$ 2000) for one year and 520 USD (HK$ 5200) for a three year certificate.

An additional fee for the protection of wages on insolvency funds that amounts to 35 USD (HK$ 250) for a one year certificate and 97USD (HK $ 750) for a three year certificate.

If the application for business registration is offline, the certificate will be issued within 30 minutes on the spot or in two working days via mail. The business registration certificate under the company incorporation and business service will be delivered together with the certificate of incorporation within one hour for online applications. A copy of the mails is sent via mail when the process is done online.